Financial services professionals in Kuwait to benefit from enhancements in their product and markets knowledge

Kuwait, 28 January 2014 - The Chartered Institute for Securities & Investment (CISI) has signed a Memorandum of Understanding (MoU) with the Kuwait Capital Markets Authority (CMA) to provide finance professionals in the country with globally recognised qualifications through accredited training partners.

The agreement will look to establish a Kuwaiti local regulations exam to complement the existing international technical qualifications offered by the CISI, thereby making the qualifications more relevant to financial professionals working in Kuwait.

A new qualifications framework will be put into place which makes it compulsory for certain entities licensed with the CMA to provide CISI qualifications to its employees. Both entities will also work to develop accredited training partners in Kuwait, so that financial professionals can avail of high quality training to attain their qualifications.

Commenting on the partnership with the Kuwait CMA, Matthew Cowan, Regional Director of CISI Middle East, said: "The CISI is constantly looking to raise the standards of the financial services industry globally, and this move with the Kuwait CMA is a big step towards helping us achieve our goal. As a result of this MoU, financial professionals in the country will receive mandatory CISI qualifications through the CMA, while individuals and corporations seeking their advice can be assured of ethical and sound counsel."

The main objective of a local exam is to ensure candidates have a basic knowledge of the regulations and legislation underpinning the financial markets and the conduct of investment business in Kuwait. This raises the standards of the service provided by financial services providers to their clients in terms of their skill set, knowledge as well as ethics.

Kuwait Capital Markets Authority's (CMA) aim is to position Kuwait as a regional capital markets hub and in order to achieve this objective it is imperative to create a highly skilled talent pool. The MOU will pave the way for the introduction of CISI certified programmes that will ensure that practitioners working in Kuwait's capital markets industry have the required skills, function with the highest ethical standards and apply best practices and techniques.

Established in 2007, CISI's Middle East operation, headquartered in Dubai, has made a significant contribution to the professionalism of the financial services industry across the region. In its latest financial year, almost 4,000 exams were taken in the Middle East. These exams cover a range of subjects from Islamic Finance and Wealth Management to Compliance and Risk, with exams available in both English and Arabic.

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About Chartered Institute for Securities & Investment (CISI)
The CISI's mission is to help members attain, maintain and develop their knowledge and skills and to promote the highest standards of ethics and integrity in the securities and investment industry. The CISI is a global organisation. Head quartered in London, with representative offices in financial centres such as Dubai, Dublin, Singapore, Mumbai and Colombo.  We work in close cooperation with regulators, firms and other professional bodies across the Middle East and internationally.

With its 40,000 worldwide membership, the CISI is the professional body which sets examinations and offers qualifications for those working, or looking to establish a career in, the wealth management and capital markets industry.

About the Kuwait Capital Markets Authority
The Capital Markets Authority was established pursuant to Law No. 7/2010, approved by the Kuwaiti Parliament in February 2010, and amended by Law No. 108/2014. Pursuant to the Law, the Authority shall regulate and supervise the securities activities, achieve transparency and fairness, oblige the listed companies to execute the Corporate Governance Principles, and protect the investors from the unfair practices which violate the Authority's Law.

Furthermore, the Law's provisions stipulate the supervision of the merger, acquisition, and disclosure operations. The Authority also aims at providing awareness programmes related to securities activities. 

For more information kindly contact
Public Relations & Media Office
Tel: 22903062
Fax: 22410169
Email: pr-media@kuwaitcma.org 

For further information on the Chartered Institute for Securities & Investment contact Zeeshan Masud or Zeina Kourki Tel: +971 4 390 1630 or email Zeeshan.masud@grayling.com / Zeina.kourki@grayling.com

© Press Release 2015